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Houlihan Lokey downsizes NYSE float

Houlihan Lokey priced 10.5 million shares at $21 apiece in a downsized initial public offering on Wednesday, as against the boutique investment bank’s earlier plans of selling 13.1 million shares for between $22 and $24.

The US restructuring expert’s New York Stock Exchange float, led by Goldman Sachs and Bank of America Merrill Lynch, saw the advisory firm raise $220.5m at a valuation of close to $1.4bn.

California-based Pure Storage, a data-storage start-up valued at roughly $3bn in its fundraising round in 2014, has filed to go public in an offering led by Morgan Stanley, Goldman Sachs, Barclays, Allen & Co. and Bank of America.

Pure’s venture-capital investors include Sutter Hill Ventures, which owns 27.4% of the company; Greylock Partners, with a 17.3% stake; and Redpoint Ventures, which holds 5.7%.